1607 Capital Partners LLC Decreases Stake in MFS Intermediate Income Trust $MIN

Key Points

• 1607 Capital Partners LLC reduced its stake in MFS Intermediate Income Trust by 29.8% during the second quarter, selling 1.89 million shares and retaining 4.45 million shares valued at approximately $11.0 million.
• Other institutional investors initiated positions, while hedge funds and institutions collectively owned 50.9% of MIN’s outstanding shares.
• MIN shares opened at $2.42, near the lower end of their 52-week range, and the trust paid a monthly dividend of $0.02 per share, representing an annualized yield of about 9.9%.

1607 Capital Partners LLC lowered its stake in MFS Intermediate Income Trust (NYSE:MIN - Free Report) by 29.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,448,916 shares of the financial services provider's stock after selling 1,885,656 shares during the quarter. 1607 Capital Partners LLC owned 3.91% of MFS Intermediate Income Trust worth $10,989,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new position in shares of MFS Intermediate Income Trust in the fourth quarter valued at about $34,000. Integrated Wealth Concepts LLC purchased a new stake in shares of MFS Intermediate Income Trust during the third quarter worth about $39,000. Advisory Solutions Group LLC purchased a new stake in shares of MFS Intermediate Income Trust during the second quarter worth about $43,000. Compound Planning Inc. bought a new stake in shares of MFS Intermediate Income Trust in the fourth quarter worth about $45,000. Finally, GatePass Capital LLC bought a new stake in shares of MFS Intermediate Income Trust in the first quarter worth about $65,000. Hedge funds and other institutional investors own 50.90% of the company's stock.

MFS Intermediate Income Trust Stock Performance

Shares of NYSE:MIN opened at $2.42 on Tuesday. The stock's 50-day moving average is $2.44 and its 200 day moving average is $2.47. MFS Intermediate Income Trust has a 1 year low of $2.39 and a 1 year high of $2.72.

MFS Intermediate Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 9.9%.

About MFS Intermediate Income Trust

MFS Intermediate Income Trust NYSE: MIN is a closed-end management investment company that seeks to provide a high level of current income consistent with the preservation of capital. The Trust pursues its objective by investing primarily in a diversified portfolio of intermediate-duration fixed-income securities. Its holdings typically include investment-grade corporate bonds, mortgage- and asset-backed securities, and select non-investment-grade debt instruments. The Trust may employ leverage to enhance income potential and intends to distribute gains and interest earnings on a monthly basis.

The portfolio is managed by the fixed-income team at MFS Investment Management, a global asset manager founded in 1924 and headquartered in Boston, Massachusetts.

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